Rupee, bond prices fall as crude oil surges
The Indian rupee and bond prices fell on concern over higher inflation and worsening government finance after a jump in crude oil prices. Weakness in other emerging market currencies against the US dollar also kept the rupee under pressure.
At 9.15 am, the rupee was at 70.24 a dollar, down 0.30% from its previous close of 70.03. The Indian currency opened at 70.25 a dollar.
The 10-year bond yield inched higher to 7.392%, compared with Thursday’s close of 7.377%. Bond yields and prices move in opposite directions.
